Oil prices fall on OPEC compliance concerns

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New York, Aug 8 (IANS) Oil prices fell on Monday as investors were concerned that major oil exporters’ output cut deal may not be effective enough.

The West Texas Intermediate for September Delivery lost $0.19 to settle at $49.39 a barrel on the New York Mercantile Exchange, while Brent crude for October delivery erased $0.05 to close at $52.37 a barrel on the London ICE Futures Exchange.

–IANS

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